Advice on succession plan

Make sure guidelines, principles, policies and procedures, and other business knowledge is all documented, or risk your business tearing apart! Consider the plan for the business going forward, and talk to the next generation to find out their expectation from the business. Succession plan should be a breathing and living, up to date document.

The full video is available for purchase as part of the Your Business Success series, volume 3.

You should sit down and identify everything you do in a business and document it so the concept is that if you are not there someone else can step in and take over. The reason you need to document procedures is to ens...

A business owner can retire in several ways. Each has implications, not only for you as the owner, but for the business and the business adviser.
In order to retire, you as an owner can:
allow the busi...

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